Cardinal Health Settles Charges Related to Overstating Results

Cardinal Healthhas agreed to pay $35 million to settle charges that it engaged in nearly a four-year fraudulent revenue and earnings scheme, the U.S. Securities and Exchange Commission said on Thursday.

The SEC complaint alleges that from September 2000 to March 2004 the Ohio-based company engaged in this conduct in order to present a false picture of its operating results.

Cardinal materially overstated its operating revenue, earnings and growth trends in certain earnings releases and filings with the agency, the SEC alleged.